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Siqi's 'ZERO' Token, Launched With Warning, Leads to 444 SOL Panic Sale Amid Daughter's Illness Claims

Dec 31, 2024, 02:07 AM

An individual, identified as Siqi, launched a cryptocurrency token named 'ZERO' with a clear warning in its description that it was destined to go to zero and advised against purchasing it. Despite this, the token was bought by investors, leading to a situation where Siqi panicked and sold 444 SOL worth of the token, which amounted to 40% of the supply. Following backlash, Siqi bought back and burned the tokens he had sold, claiming to have made no profit from the transaction. The incident has sparked discussions within the crypto community about the ethics and risks of investing in meme coins and tokens launched with humorous or cautionary descriptions. Additionally, there are allegations that Siqi, an 8-year crypto veteran, used the narrative of his 5-year-old daughter's brain tumor to gain sympathy and possibly influence investment in his tokens, raising concerns about the integrity of such actions within the cryptocurrency space. Siqi had previously donated 1 million to cancer research and promised a 600k reimbursement to investors affected by the 'ZERO' token incident, which some claim was a rug pull worth $80k.